HG Vora Capital Management LLC Purchases New Stake in UGI Corporation $UGI

Key Points

• HG Vora Capital Management LLC acquired 1,000,000 shares of UGI Corporation for approximately $33,070,000, making it the 11th largest position in their portfolio.
• UGI Corporation is set to pay a quarterly dividend of $0.375 on October 1st, with a current annualized dividend yield of 4.4%.
• Recent analysts' ratings indicate a consensus of "Moderate Buy" for UGI, with the price target raised to $39.00 by Mizuho.

HG Vora Capital Management LLC bought a new stake in shares of UGI Corporation (NYSE:UGI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,000,000 shares of the utilities provider's stock, valued at approximately $33,070,000. UGI accounts for 3.4% of HG Vora Capital Management LLC's portfolio, making the stock its 11th biggest holding. HG Vora Capital Management LLC owned 0.47% of UGI as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. CX Institutional purchased a new stake in UGI in the 1st quarter worth approximately $30,000. Private Trust Co. NA lifted its holdings in UGI by 36.1% in the 1st quarter. Private Trust Co. NA now owns 1,395 shares of the utilities provider's stock worth $46,000 after buying an additional 370 shares during the period. Quarry LP purchased a new stake in UGI in the 1st quarter worth approximately $51,000. Quintet Private Bank Europe S.A. lifted its stake in shares of UGI by 25.3% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,880 shares of the utilities provider's stock valued at $62,000 after purchasing an additional 380 shares during the period. Finally, SouthState Corp purchased a new position in shares of UGI in the 1st quarter valued at approximately $62,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on UGI. Mizuho boosted their target price on UGI from $38.00 to $39.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Zacks Research upgraded shares of UGI to a "hold" rating in a research note on Monday, August 11th. Finally, Wall Street Zen cut shares of UGI from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, UGI currently has an average rating of "Moderate Buy" and an average target price of $31.33.

UGI Stock Performance

NYSE:UGI traded up $0.18 on Tuesday, hitting $34.48. The stock had a trading volume of 687,014 shares, compared to its average volume of 1,924,742. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.16. The business's 50-day simple moving average is $35.43 and its two-hundred day simple moving average is $34.48. UGI Corporation has a 52-week low of $23.14 and a 52-week high of $37.42.

UGI (NYSE:UGI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11. UGI had a return on equity of 15.73% and a net margin of 5.70%.The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.06 EPS. The firm's quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts predict that UGI Corporation will post 3.02 earnings per share for the current year.

UGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. UGI's dividend payout ratio is currently 78.95%.

UGI Company Profile

UGI Corporation, together with its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.